R.RAGHU Vs. G.M.KRISHNA

JUDGEMENT

(1.) The present appeals arise from the impugned order dtd. 17/8/2023, passed by the High Court of Karnataka in C.R.P. No. 539/2015. The petitioner before the High Court was R. Raghu, while the respondents were G.M. Krishna and Karnataka State Financial Corporation(KSFC). Before this Court, appeals have been filed by both R. Raghu and G.M. Krishna, along with a contempt petition filed by G.M. Krishna. R. Raghu has filed Civil Appeal No. 8544 of 2024 whereas G.M. Krishna has filed Civil Appeal No.8545 of 2024. The contempt petition has been heard alongside the appeals. For convenience, the parties will be referred to based on their positions in Civil Appeal No. 8544 of 2024 i.e. R. Raghu as appellant and G.M. Krishna as respondent.

(2.) The facts giving rise to the dispute are that the respondent was the Managing Director of Hoysala Thermo Farmers Pvt. Ltd.,the Company that had borrowed money from respondent no.2 KFSC, with the respondent acting as a guarantor. Due to defaults in repayment, KSFC initiated recovery proceedings before the Principal District Judge, Rural District, Bangalore and was granted a decree for Rs.2,61,28,017.57paise against the Company in Misc. No. 52/1996 vide judgment and decree dtd. 15/11/1999.

(3.) The appellant has preferred Civil Appeal No.8544 of 2024 aggrieved by the two directions given by the High Court in the impugned order relating to additional payment of Rs.25.00 lakhs per acre to the respondent as additional sale price and secondly, the direction to the District Court to conduct the survey of the auction property measuring 5 acres 20 guntas in Sy.No.67 and to fix its boundaries.